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See - Sada Elbalad
15-05-2025
- Business
- See - Sada Elbalad
Lifting Sanctions on Syria Reshapes tEconomic Landscape
Taarek Refaat In a move that seemed like throwing a stone into decades-old waters, US President Donald Trump announced from Riyadh the end of the rift with Damascus and the lifting of sanctions imposed on Syria, a major development that will support the country in its journey to rebuild its war-ravaged economy. However, the sanctions lifting journey may be full of details, especially since it is not a recent development; it actually dates back to 1979. Trump announced yesterday his intention to "lift all sanctions on Syria" after talks with Saudi Crown Prince Mohammed bin Salman during his visit to the Kingdom, the first stop on his Gulf tour this week. Trump did not disclose the timing and method of lifting these sanctions, nor whether they would be lifted all at once or in parts. He simply indicated that he would work "to lift the sanctions on Syria to give them a chance... because the sanctions were bad and they were holding the country back... and now is the time for Syria to prosper." The long-awaited lifting of sanctions will undoubtedly have a positive impact on many aspects of the Syrian economy, particularly in terms of returning to the global financial and banking system, engaging with international institutions, and encouraging investors. However, maximizing the benefits of this increase requires internal steps, including structural, financial, and legal ones. This raises several scenarios, particularly regarding determining priorities that affect citizens' lives. Finance Minister Mohammad Yaser Barniyeh believed that the US decision would help his country attract foreign investment and financial flows, and return to the global financial and monetary system, according to the Syria TV channel on Telegram. Barniyeh also pledged to continue "rebuilding infrastructure and providing an institutional and legislative environment that attracts investment." The announcement had a "more political than economic" nature, according to Adnan Mazari, a non-resident senior fellow at the Peterson Institute for International Economics. In an interview with Asharq Al-Awsat, he explained that transferring it to the economy requires the government to take several key steps, including "developing strategic plans that identify the sectors that need financing, building trust internally and externally, and working diligently to build official institutions." Mazrai, who previously served as Deputy Director for the Middle East and Africa at the International Monetary Fund, believes the announcement could push Washington toward issuing some exemptions allowing trade with Syria. But more importantly, he believes, the decision will allow other countries, such as Saudi Arabia, to contribute directly to reconstruction funding. The Syrian economy is suffering from a severe collapse. A United Nations report released in February indicated that three out of four people in Syria rely on humanitarian aid, while the poverty rate has tripled to 90% of the population, while the extreme poverty rate has increased sixfold to 66%. The economy has also been severely impacted by the war that began in 2011. The UN report estimated the total losses in GDP over 14 years at approximately $800 billion. UN sanctions continue to pressure the economy despite the fall of Bashar al-Assad's regime, amid calls from the government and regional countries, led by Saudi Arabia, to lift the sanctions because the reasons for their imposition no longer apply. Trump's announcement faces legal dilemmas, according to Marco Massad, an international relations researcher at the Middle East Policy Institute in Washington. He pointed out in an interview with Asharq Al-Awsat that US presidents often impose sanctions on countries through executive orders, which they can then revoke. Sanctions enacted through legislation, such as the Caesar Act, are more complex and may require a reassessment by the State and Justice Departments of the situation in Syria and congressional approval. Irina Tsukerman, a lawyer and president of Scarab Rising, a strategic consulting firm, also pointed to this point. She believes that "the Caesar Act will not disappear overnight," as it was designed to target "Assad's behavior, not his person." She believes that the law's complete repeal requires congressional approval, which is far from certain given the partisan divide. She also noted that "Israeli concern about the new regime in Syria" is an important factor in this equation. She noted that Trump may resort to issuing limited exemptions for specific sectors, in an attempt to mitigate the effectiveness of this law. Implementing the decision represents a "major boost" for the Syrian government, which is struggling to secure funding for reconstruction and economic revival. It will also help the country obtain support from international banks and lenders such as the International Monetary Fund and the World Bank, according to Mazrai. He added that the mere announcement does not mean "funding will flow to Syria," considering the high levels of debt to be one of the main problems. There is no official figure for the size of Syria's debt, but Mohammad Abazid, the former Minister of Finance in the caretaker government, indicated in media statements that the foreign debt ranges between $20 and $23 billion, in addition to "billions in domestic debt." nul read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Egypt confirms denial of airspace access to US B-52 bombers Lifestyle Pistachio and Raspberry Cheesecake Domes Recipe News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War
Kuwait Times
04-05-2025
- Politics
- Kuwait Times
Kuwait: Zionist attacks on Syria a blatant violation of sovereignty
Kuwait urges international action against repeated Zionist entity crimes in the region KUWAIT: Kuwait strongly condemned the Zionist entity's airstrike that targeted the area surrounding the Syrian presidential palace in Damascus, in a blatant violation of Syria's sovereignty, the Ministry of Foreign Affairs said in a statement on Friday. The Zionist entity has escalated its attacks on Syria since the fall of Bashar Al-Assad in December, with bombings across the country and ground forces entering its southwest, while calling for Syria to remain decentralized and isolated. Zionist leaders have also repeatedly issued threats against the new Syrian president Ahmed Al-Sharaa, whom they view as a threat to their borders. Syria was not spared from Zionist bombing when the country was governed by Al-Assad, with the entity claiming its attacks at the time were targeting Iranian bases. 'Justifying such attacks under security pretexts does not legitimize any violation of a country's sovereignty,' said Kuwait's foreign ministry. Damascus, Hama and Daraa were also hit by Zionist strikes on Friday, Syrian state news agency SANA reported. The strikes on Damascus countryside killed one civilian and injured four others in Hama, SANA added. The Zionist military confirmed the attacks on Saturday, saying its forces 'struck a military site, anti-aircraft cannons and surface-to-air missile infrastructure in Syria' without giving further details or any evidence. The strikes come after more than 100 people were killed during fighting between pro-government forces and Druze fighters in Syria. Zionist leaders have framed their attacks on Syria around accusations that it has failed to protect its Druze community. Late on Thursday, Druze community leaders and Syrian government officials met in Sweida in a bid to defuse tensions. Their concluding statement said residents of Sweida would protect their province as a part of Syria's internal security forces, and rejected 'division, separation or secession'. 'Syria is our mother nation, we do not have an alternative country,' Sheikh Laith al-Balous, one of the Druze leaders in the meeting, told Syria TV in an interview when asked whether the Zionist entity's strikes on Syria were meant to protect the Druze. 'We don't need anyone's protection.' The Zionist military continues to occupy parts of Syria, including the Golan Heights, despite international condemnation. Kuwait reaffirmed its unwavering stance in support of the unity of Syria and the integrity of its territories. It called on the international community to shoulder its legal and humanitarian responsibilities to halt the repeated violations and crimes committed by the Zionist entity occupation in the region, which threaten the security and stability of the area. — Agencies
Jordan News
03-05-2025
- Politics
- Jordan News
Jumblatt: The Enemy Is Obstructing the Political Solution in Syria - Jordan News
Former leader of the Progressive Socialist Party, Walid Jumblatt, on Saturday condemned the repeated Israeli attacks on Syrian territory, the latest of which were airstrikes targeting areas around Damascus and other regions late Friday into Saturday. اضافة اعلان "I strongly denounce this blatant violation of Syrian sovereignty, which hinders the completion of the political solution we are working on with President Ahmed Al-Shara," Jumblatt stated. "I renew my call for Arab states and the international community to provide full support to Syria, stand by its side in rebuilding a new state and future, and to safeguard its national security and citizens. Pressure must be exerted on the Israeli enemy to stop its blatant interventions and continued violations by air and land, as well as its occupation of parts of Syrian land." According to Lebanon's National News Agency, Jumblatt met with Syrian President Ahmed Al-Shara on Friday but left without making a public statement. Syrian media later reported that he had rejected calls for separation or international protection advocated by some within the Druze community. Sources told Syria TV that Jumblatt emphasized the need for weapons to remain solely in the hands of the state, and called for the formation of an independent investigation committee to determine who was responsible for recent violent incidents in Jaramana and Sahnaya. His visit to Damascus comes just days after sectarian clashes erupted in southern areas of the capital, including Jaramana, Sahnaya, and Sweida, leaving dozens dead or injured.
Shafaq News
30-04-2025
- Politics
- Shafaq News
Iran-linked tunnel on Iraq-Syria border: Smuggling allegations surface
Shafaq News/ Syrian security forces uncovered a tunnel on Wednesday linking Iraq and Syria in the Al-Bukamal border region, a strategic area along the shared border between the two countries. According to Syria TV, the tunnel, located east of Deir ez-Zor province, connects a former base of "Iranian militias" in Al-Hari village and stretches 500 meters into Syrian territory. Residents in the area told the station that the headquarters housing the tunnel was 'significant,' with unidentified vehicles frequently arriving at the site under tight security measures. Iran has faced numerous accusations concerning activities in the Al-Bukamal region, which lies along the 600 km border that Iraq shares with Syria. Reports suggest that Iranian-backed forces utilize these tunnels for smuggling weapons, including missiles and heavy shells, as well as narcotics, allegations that Tehran has often disputed. In January 2024, security forces in Al-Bukamal uncovered a tunnel connecting Syria and Iraq. Locals claimed Iranian forces used it to smuggle weapons and narcotics.
Asharq Al-Awsat
29-04-2025
- Politics
- Asharq Al-Awsat
Syrian Army Takes Control of Tishrin Dam from SDF
Syrian army troops have deployed near the Tishrin Dam in the eastern countryside of Aleppo province, setting up military positions in what appears to be a step toward assuming control of the facility from the US-backed Syrian Democratic Forces (SDF). Pro-government broadcaster Syria TV cited an official source on Monday as saying the military had entered the outskirts of the Tishrin Dam area and established military outposts in preparation for a handover of the strategic site. The dam, located near the city of Manbij, has been under the control of the Kurdish-led SDF, which played a key role in the fight against ISIS in northern Syria with the backing of the US-led coalition. Syria's transitional president, Ahmed al-Sharaa, and SDF leader Mazloum Abdi signed an agreement on March 10 aimed at integrating all civil and military institutions of the Kurdish-led autonomous administration in northern and northeastern Syria into the Syrian state. Syrian authorities, the SDF, and Türkiye had reached an agreement, brokered by the United States, for the transfer of the Tishrin Dam to the Syrian government. Under the deal, the military will deploy forces around the dam, while teams from Damascus have already begun maintenance and upgrading works on the facility. The agreement aims to bring an end to the fighting that had erupted between Syrian factions loyal to Türkiye, which have integrated into the Syrian army, and the SDF. The clashes, which had persisted for over three months since December 12, have now subsided. On Thursday, Türkiye's Ministry of Defense announced that Ankara is closely monitoring the implementation of the agreement regarding the handover of the dam. The deployment of Syrian forces around the dam comes amid reports of renewed tensions in the area, which had been relatively calm for nearly a month. Syria's state-run Syria TV reported that the military had sent reinforcements to areas previously affected by clashes with the SDF. Additionally, reports said the SDF and Syrian forces were on alert after Turkish drones launched an attack near the dam, following the death of a fighter from Türkiye-backed factions in the region. The situation continues to evolve as both sides remain on edge in the strategic area.
